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Is Advance Auto Parts Setting Up for a Big Move? By StockNews

by Mike Robinson

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© Reuters. Advance Auto Parts is preparing for a big move

A down channel chart pattern has formed in the chart of Advance Auto Parts (NYSE:) over the past two months. It is a mixture of a support line that runs parallel with a resistance line. A big movement is possible if the stock breaches either of these levels. You can read more for how to profit from the trade. Advance Auto Parts (AAP), North America’s biggest retailer of aftermarket parts and tools, is a leader in the DIY market. AAP owned 4,976 shops and serviced 1,277 Carquest independent stores.

AAP has expanded its presence by opening new shops and expanding its online reach. AAP continues to improve its Do It Yourself (DIY), e-commerce platform. AAP’s acquisition of DieHard is boosting sales.

AAP’s current ratio is 1.3. This indicates that it has enough liquidity to meet short-term obligations. Our POWR Ratings have given AAP a Quality grade of A. The company’s 44.9% gross margin is higher than the industry average.

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